2010 Rhode Island Code
Title 19 Financial institutions
CHAPTER 19-14 Licensed Activities
§ 19-14-14 Revocation by default.
§ 19-14-14 Revocation by default. – (a) The director or the director's designee may revoke any license without a hearing by default if the licensee fails to respond to notifications informing the licensee of a failure to pay the annual license fee, maintain in effect the required bond or bonds or maintain net worth requirements as required by this title.
(b) For the purposes of revocation by default the director or the director's designee shall send to the licensee and to the licensee's registered attorney for service of process at the address stated in the application for license, by certified mail, notice of the deficiency and potential revocation of license. Should the licensee or the licensee's registered attorney fail to respond to the certified mail or is not answering to service, the director or the director's designee may revoke the license by default and without hearing after fifteen (15) days from the date of the certified mail.
History of Section.
(P.L. 1995, ch. 82, § 52.)
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